Mumbai based décor startup Arrivae recorded 21% growth in revenue in FY23 to Rs 43.46 crore in comparison to FY22’s Rs 36 crore.
Along with the spike in overall revenue, the company’s revenue from operations also ballooned 17% from the previous Rs 35 crore to FY23’s Rs 41 crore.
Seven-year-old Arrivae is a made-to-order furniture manufacturer and home improvement company which offers custom interior design solutions from demand mapping to installation supported by in-house technology.
The company follows a data-driven manufacturing process of interconnected system, and efficient procurement with minimum manual intervention to make home improvement more accessible with minimum wastage.
The firm has gathered over Rs 195 crore through 4 funding rounds. It last secured its extended Series B round of Rs 20.8 crore earlier this month. The round was led by Mithun Sacheti.
Post the infusion of funds in the round, Singularity Ventures became the company’s largest shareholder. The likes of Dovetail Global Fund and Volrado Ventures also have significant shares in Arrivae.
In 2022, it has raised its Series B round of about Rs 70 crore led by Think Investments.
The company’s losses amounted to Rs 27.4 crore a mere 5% rise from the preceding fiscal’s Rs 26 crore. Its current EBITDA and ROCE stand at -77.66% and -57.51% respectively.
Employee benefits was the company’s major expenses in FY23 spending over Rs 26 crore. This totaled with its cost of materials of Rs 21 crore and depreciation of over Rs 4 crore pushed the overall expenses for FY23 to Rs 81.5 crore. This was a 24% rise from FY22’s Rs 65 crore.